Longboat Key Condo Sets Record With $10.99M Sale
415 L Ambiance Drive
$10,990,000
$2,125/SF
Building Size
5,170 SF
Asset Type
Condo
Closing
Feb 5, 2024
About this deal
AI
A penthouse at 415 L Ambiance Drive on Longboat Key was sold for $10.99 million on January 31. This sale set a record as the highest condominium sale in the area. The penthouse features 5,170 square feet of space and offers breathtaking views of the Gulf and downtown Sarasota through its floor-to-ceiling windows.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $10,990,000
- Square Footage: 5,170
- Price per Square Foot: $2,126
- Address: 415 L Ambiance Drive
- Market: Longboat Key
The sale was facilitated by Roger Pettingell from Coldwell Banker. As the broker representing the buyer or seller, Roger Pettingell played a crucial role in the successful completion of this transaction.
Longboat Key Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93